Pocket Living is launching "Together," a shared living rental product aimed at key workers and young professionals priced out of London's housing market.
The concept draws on sharing models from the US, South Korea and New Zealand, and is designed to address both affordability and the rise in loneliness among renters. Homes feature ensuite bedrooms leased individually rather than through joint tenancies, with shared use of living, cooking and dining areas. The model offers renters the benefits of community and cost-sharing without the drawbacks of poorly matched house shares.
The launch follows Pocket Living's Generation Rent report, which found that 70% of renters say housing costs are affecting their mental health, while half of key workers are considering leaving their profession due to unaffordable rents. Two-thirds of Londoners aged 25-45 are borrowing to cover basic housing costs.
"Pocket Living has always been about doing things differently, creating smart, design-led solutions to help Londoners stay in the city they love," said Paul Rickard, chief executive officer at Pocket Living.
"Together takes that mission a step further. It will give key workers and young professionals access to affordable, high-quality homes that offer both independence and community. This pilot is the first of its kind, and we are delighted to launch it in Lambeth, a Borough that has been critical to our growth."
Planning permission has already been secured for the first Together development within a wider project in Lambeth, which will provide homes for 150 renters. Pocket Living has identified a pipeline of further sites that could deliver additional schemes, targeting what it describes as the next generation of essential city dwellers.
The company, which launched its first discounted home in London two decades ago, says the new product builds on its focus on intelligent design, efficient use of space and housing the key workers, creatives, musicians and digital professionals who form the backbone of the city.
